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treatment of compensation on account of compulsory acquisition of land

2131 views 4 replies

TAX GURU

1 Points Joined October 2017

What is the treatment of compensation received on account of compulsory acquisition of land not an agricultural land ?
kindly tell me treatment to be given while filing return of income for amount received in financial year 2017-18 on account of compensation received from compulsory acquisition of land being not an agricultural land.

Replies (4)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210636 Points Joined July 2016

After the implementation of the RFCTLARR act, 2013; all the land aquisition under section 96 of the act are tax-exempt under income tax.

acts-rules-policiesacts/acts

Incometax circular no .36/2016

Anjali P Nair

ACA ACMA

582 Points Joined July 2016

HR CONSULT

CONSULTANT

14 Points Joined May 2019

Originally posted by : Dhirajlal Rambhia
	After the implementation of the RFCTLARR act, 2013; all the land aquisition under section 96 of the act are tax-exempt under income tax. acts-rules-policiesacts/acts Incometax circular no .36/2016